Corporate direct financing down in July on decreased debt sales

Corporate direct financing fell in July from the previous month due to a fall in bond sales, data showed Wednesday.

Local companies raised a combined 26.34 trillion won ($19.03 billion) last month by selling stocks and bonds, down 0.5 trillion won, or 1.9 percent, from a month earlier, according to data from the Financial Supervisory Service.

Stock sales nearly quadrupled to 1.49 trillion won in July from June, and corporate bond sales fell 1.68 trillion won, or 6.3 percent, to 24.85 trillion won over the cited period.

The value of outstanding corporate bonds stood at 766.95 trillion won as of the end of July, an increase of 9.72 trillion won, or 1.3 percent, from a month ago, the latest findings showed.

Yonhap